Asked by: Richard Burgon (Labour - Leeds East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 16 June 2015 to Question 900337, what estimate has been made (a) by the Governor of the Bank of England and (b) from Rothschild of the effect on the public purse of the sale of the Government's stake in the Royal Bank of Scotland.
Answered by Harriett Baldwin
In announcing the sale of the Government’s shareholding in Royal Bank of Scotland, the Chancellor is acting on independent advice from the Governor of the Bank of England and a report from Rothschild investment bank that it is in the public interest for the Government to begin now to sell its stake. The report by Rothschild, and the corresponding advice from the Governor, are both available online at www.gov.uk.
Asked by: Richard Burgon (Labour - Leeds East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, What estimate he has made of the effect on the public purse of the sale of the Government's stake in the Royal Bank of Scotland; and if he will make a statement.
Answered by Harriett Baldwin
The Chancellor has recieved independent advice from the Governor of the Bank of England and from Rothschild that it is in the interests of taxpayers to begin now to sell our stake in RBS. This is the right thing to do for the economy and for British taxpayers, and to ensure the best price possible.